By Yakubu LAAH InvestAdvocate

Lagos (INVESTADVOCATE)-The Nigerian bourse on Wednesday halted a seven (7) losing streak as all share index (ASI) climbed up 0.53 percent to close at 27,743.92 basis points, while market capitalisation increased by N50.57 billion to N9.53 trillion.

“Today’s increase reduced the Month-to-Date and Year-to Date losses to 4.91 percent and 19.95 percent respectively,” Cordros daily market update affirmed.

According to the update, four (4) out the five (5) sector indices gained. It reported the Banking index appreciated by 1.05 percent on the gains recorded in the shares of lenders Guaranty trust Bank Plc and Access Bank Plc by 4.71 percent and 0.87 percent respectively.

In the same vein, the Industrial and Consumer Goods indices climbed up by 0.63 percent and 0.06 percent respectively following the positive performances in the shares of cement producer, Dangote Cement Plc and beer maker, Nigerian Breweries Plc by 1.26 percent and 0.85 percent respectively.

Similarly, the Insurance index gained 0.60 percent on the performance of NEM Insurance Plc appreciating by 1.54 percent.

On the contrary, the Oil & Gas index dipped by 0.40 percent following losses recorded in the shares of oil marketers, Mobil Nigeria Plc and Oando Plc by 4.99 percent and 0.34 percent respectively.

At the close of today’s session, market breadth sustained a negative outlook, with 12 gainers and 20 losers recorded.

Indigenous marine, aviation and logistics services firm, Caverton Offshore Support Group Plc emerged the top gainer with a gain of 0.22 kobo per share; while Eterna Plc topped the losers list with a loss of 0.15 kobo per share to close the day.

In terms of turnover, total volume traded at the close of transactions on the Nigerian Stock Exchange (NSE) increased by 48.36 percent to stand at 203.82 million shares valued at N2.75 billion in 2,408 total deals.

“We expect another green session as positive sentiments appears to have returned to the market,’ the Cordros update affirmed.